7324 Martin Luther King Jr. Way
An eight-story mixed-income apartment building is planned on the property for development as an Opportunity Zone project. The development will be within easy walking distance of the nearby Othello Light Rail Station. The project is the latest transit-oriented development to be announced in the neighborhood. Across the street is Othello Square, a 3-plus-acre mixed-use development that nonprofit HomeSight and partners are developing. The 7324 Martin Luther King Jr. Way project will have 164 apartments with three-quarters of them priced to be affordable for people who make between 80% and 120% of area-median income (AMI). The remaining units will be priced for people whose incomes are 70% of AMI, through the city’s Multifamily Tax Exemption program. There will be about 2,250 square feet of commercial space on the ground floor for authentic neighborhood retail. The project team includes Neiman Taber Architects and STS Construction Services.